Baidu (NASDAQ:BIDU) Price Target Cut to $135.00 by Analysts at Susquehanna

Baidu (NASDAQ:BIDU) had its target price reduced by Susquehanna from $150.00 to $135.00 in a research note released on Friday, Benzinga reports. They currently have a positive rating on the information services provider’s stock.

A number of other research firms have also recently commented on BIDU. Citigroup cut their target price on Baidu from $181.00 to $176.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. Macquarie downgraded shares of Baidu from a strong-buy rating to a hold rating in a report on Friday, May 17th. HSBC decreased their price objective on Baidu from $157.00 to $145.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Barclays cut their price target on Baidu from $138.00 to $133.00 and set an overweight rating for the company in a report on Thursday, February 29th. Finally, StockNews.com downgraded shares of Baidu from a buy rating to a hold rating in a report on Saturday, March 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Baidu currently has a consensus rating of Moderate Buy and a consensus target price of $160.93.

Baidu Stock Performance

NASDAQ BIDU opened at $100.28 on Friday. Baidu has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The stock’s fifty day moving average is $104.55 and its two-hundred day moving average is $108.11. The firm has a market capitalization of $35.16 billion, a P/E ratio of 13.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.01 and a current ratio of 2.79.

Institutional Investors Weigh In On Baidu

Hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after purchasing an additional 99 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after acquiring an additional 110 shares in the last quarter. Beacon Financial Group increased its position in Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after purchasing an additional 128 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after buying an additional 139 shares during the last quarter. Finally, Financial Counselors Inc. increased its holdings in Baidu by 8.9% in the third quarter. Financial Counselors Inc. now owns 1,714 shares of the information services provider’s stock worth $230,000 after buying an additional 140 shares during the last quarter.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.